Reviewed by Shannon Martin, Licensed Insurance Agent.
“Usury laws vary on where you live or where your lender is headquartered. If you get a private loan, there’s no guarantee that it will fall under usury loans.
Therefore, you should research the usury rate in your state. Once you know what the legal limit is, you can start shopping around with lenders. This will give you a strong idea of what a decent interest rate should be for your
Before agreeing or signing any contract, you should review all the terms and conditions. Some states allow higher interest rates if you willingly sign the contract with the interest rate clearly stated. If you’re unfamiliar with loan contracts, ask a family member or friend to review it.
Since you’re financing a new car, you should also shop around for car insurance with
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